Dangote Petroleum Refinery has commenced nationwide sales of Premium Motor Spirit, PMS, at a pump price of ₦739 per litre, marking a major intervention in Nigeria’s downstream petroleum sector.
The new price is being implemented across all MRS Oil Nigeria Plc filling stations nationwide, giving motorists access to cheaper petrol amid rising living costs and heightened fuel demand during the festive period.
With over 2,000 MRS stations spread across the country, the refinery said the pricing would ensure broad-based relief for consumers.
In a statement, the refinery described the move as part of its long-term commitment to providing affordable, locally refined fuel while stabilising the petroleum market.
It commended marketers that have adopted the new pricing and urged others to do the same in the national interest.
The refinery noted that the price reduction comes at a period when fuel scarcity is common, stressing that it had guaranteed a daily supply of 50 million litres to prevent disruptions.
It said the intervention was aimed at easing pressure on households, transport operators and businesses during the holiday season.
Industry observers believe the large-scale local refining of PMS is reducing Nigeria’s dependence on imported fuel, conserving foreign exchange, strengthening the naira and improving energy security.
They said sustained price moderation and steady supply could help stabilise the downstream market in the long run.
Dangote Refinery also warned against attempts by unscrupulous operators to create artificial scarcity or manipulate supply in response to the price cut. It called on regulatory agencies to remain vigilant and take firm action against such practices.
The refinery urged Nigerians to avoid buying petrol at inflated prices when cheaper alternatives are available, encouraging consumers to patronise MRS stations selling at the approved ₦739 per litre. It provided a hotline for reporting any outlet selling above the stated price.
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Beyond the retail price cut, the refinery has introduced several measures to strengthen fuel distribution nationwide.
These include reducing the minimum purchase requirement from two million litres to 250,000 litres and introducing a 10-day bank guarantee system to support marketers and ensure uninterrupted supply.
The refinery recently also announced a further reduction of PMS price at the gantry to ₦699 per litre, a move seen as opening the market to smaller operators and boosting competition across the supply chain.
Since the announcement, over 1,000 trucks are reported to be loading PMS daily from the refinery’s gantry.
Speaking on the developments, President of the Dangote Group, Aliko Dangote, said the refinery’s goal was to make energy affordable and accessible to all Nigerians.
He said lowering prices and purchase volumes was designed to empower both large and small marketers, ensuring fuel reaches all parts of the country.
Dangote reiterated that the refinery project was driven by national interest rather than short-term profit, adding that efforts were ongoing to ensure price reductions at the gantry are reflected at retail outlets.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged its members nationwide to patronise the Dangote Refinery for PMS supply.
The association expressed confidence that the refinery’s pricing and planned free delivery would eliminate supply gaps and prevent scarcity.
IPMAN National President, Alhaji Abubakar Maigandi, said the association controls over 80 per cent of Nigeria’s PMS retail market, assuring Nigerians of steady fuel availability as members deepen engagement with the refinery.
Dangote Petroleum Refinery reaffirmed its commitment to consistent supply, price moderation and energy security, stating that its operations remain anchored on supporting Nigeria’s economic stability and reducing dependence on fuel imports.
The Nation
